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. >>> one year after the lehman brothers collapse, the associated press had a poll down that eight out of 10 people think the economy is in poor shape. seven of 10 think the governme has not taken enough steps rents and other financial catastrophe. >>> we are following a developing story out of new york city. but there is a terror probe. they conducted a search in queens. federal authorities have linked members of congress to the probe. they do not know who was going to carry it out. >>> for the latest on health care reform, a new abc poll is showing in nation divided on the administration's handling of health care reform trade according to the poll, 40% of american apove. the server was conducted thursday-saturday after the president's address to congress. it has a margin of error -- error of 3%. he is said to a rally in college park on thursday. >>> while, the efforts to crack health care legislation to take a big step forward as it is tomorrow. if the senate finance coittee chairman baucus is his bipartisan gang of six is nearing closure on his health care bill. the baucus plan is t
. >>> one year after the lehman brothers collapse, the associated press had a poll down that eight out of 10 people think the economy is in poor shape. seven of 10 think the governme has not taken enough steps rents and other financial catastrophe. >>> we are following a developing story out of new york city. but there is a terror probe. they conducted a search in queens. federal authorities have linked members of congress to the probe. they do not know who was going to carry...
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Sep 14, 2009
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obviously it was the one-year anniversary for lehman brothers. it gave him an opportunity to talk about some of the moves and the steps he took at the time helped pull the economy back from the brink. i think it was a time when there is a lot of concern about the sheer cost of the health care plan in addition to everything else he'd done. also the larger issue of what is the role of government? is this an administration that really wants to run private industries? i think he wanted to say in that speech, first of all, we're getting some of the money back. but also ultimately we're not interested in running wall street. that was also a proxy for saying, we're not interested. we're not interested in running the health care industry. >> john harwood, exactly to the point of winding down the government involvement from the bailout. i think he can make a pretty strong argument that he had no choice. he inherited what was left to him by george bush? he knows that he will own health care reform. how does he wind down the government's involvement? >> rep
obviously it was the one-year anniversary for lehman brothers. it gave him an opportunity to talk about some of the moves and the steps he took at the time helped pull the economy back from the brink. i think it was a time when there is a lot of concern about the sheer cost of the health care plan in addition to everything else he'd done. also the larger issue of what is the role of government? is this an administration that really wants to run private industries? i think he wanted to say in...
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Sep 15, 2009
09/09
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CNN
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lehman should have been saved? >> 20/20, most people saying letting lehman go that way is what triggered this cataclysm. but the egregious errors were made in years before that when the institutions were made in a way that institutions were made into such big institutions and were permitted to get leveraged to the point that when the market began to drop, they collapsed and what people say in sort of a technical phrase, there's an asymmetry. they were covered on the downside because they were too big to fail. taxpayer dollars went in, they got all the upside, so they invested in riskier and riskier investments. and at the end of the day, the taxpayer was on the hook and they made out like bandits. we socialized the risk, privatized the gain, it's wrong. and until too big to fail is addressed head-on, nothing will be done fundamentally. >> you also said, quote, constitutions that have received billions or trillions of taxpayer dollars are not investing that money back into the system to create jobs for the future. >
lehman should have been saved? >> 20/20, most people saying letting lehman go that way is what triggered this cataclysm. but the egregious errors were made in years before that when the institutions were made in a way that institutions were made into such big institutions and were permitted to get leveraged to the point that when the market began to drop, they collapsed and what people say in sort of a technical phrase, there's an asymmetry. they were covered on the downside because they...
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Sep 15, 2009
09/09
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we are on the one-year anniversary of the collapse of lehman brothers. what is your take on how president obama addressed wall street, and what he is calling for? guest: the president has a lot of good will on wall street because everyone wants the economy to recover. the problem is, despite his good will, there is more uncertainty in our economy today than we did a year ago. we do not know where government policy is going. we have created this t.a.r.p. fund. the bush administration started it and the obama administration continued it. rather than reducing the money, because originally congress said that the companies that received the money could pay it down and that would go to deficit reduction, but instead is going into a revolving fund that may do more bailouts. and then have the nationalization of certain industries. general motors became government motors. we have a ballooning deficit. 46 cents on every dollar the government spends this year will be borrowed. on the plus side, the president has done a great job inspiring people to say that we shou
we are on the one-year anniversary of the collapse of lehman brothers. what is your take on how president obama addressed wall street, and what he is calling for? guest: the president has a lot of good will on wall street because everyone wants the economy to recover. the problem is, despite his good will, there is more uncertainty in our economy today than we did a year ago. we do not know where government policy is going. we have created this t.a.r.p. fund. the bush administration started it...
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Sep 11, 2009
09/09
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CNBC
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lehman imploded. did anybody in that room, did hank paulson, ben bernanke, tim geithner, the regulators, the ceos, did you have any idea of the systemic risk that was going to just explode through the system when lehman finally -- when they did capitulate? >> we all had a sense it would be a disaster, but no one thought it would actually shut the markets down, and it really did. >> but, you know, that's fascinating. it's one thing for you wall street ceos, you guys it's kind of the fish swimming in the ocean. i almost don't expect you to expect the system shutting down. but paulson, bernanke, geithner, they had no clue? >> i don't think they did. things were moving so quickly and so fast that, you know, there's no playbook that's ever been written. you have to deal with it when it happens, and clearly after lehman went down and merrill gets bought by b of a and you had the payment system dry up, i don't think anybody anticipated that would have happened and i think if they had, there may have been a d
lehman imploded. did anybody in that room, did hank paulson, ben bernanke, tim geithner, the regulators, the ceos, did you have any idea of the systemic risk that was going to just explode through the system when lehman finally -- when they did capitulate? >> we all had a sense it would be a disaster, but no one thought it would actually shut the markets down, and it really did. >> but, you know, that's fascinating. it's one thing for you wall street ceos, you guys it's kind of the...
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Sep 14, 2009
09/09
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. >> on monday we celebrate the anniversary of the lehman brothers' collapse that caused the financial catastrophe unlike anything we've seen. >> reporter: a year ago the bush administration decided lehman was not too big to fail. >> i think we were within 72 hours of a collapse of the system. >> reporter: then came the collapse that led to an unprecedented $700 billion in bailouts. today on wall street president obama will lay out an argument for reform. forcing banks to keep more money to cover losses. making complex transactions more transparent and creating a new agency to oversee it all. >> they've done a lot of good work but have not changed anything fundamentally and until they do, the risk of another financial panic in our future is still very high. >> reporter: but the president's sliding popularity weakens his position. just 54% of americans approve of the job he's doing in the latest abc news/"washington post" poll. concerns he acknowledged to abc news. >> people are feeling anxious. we h to take a series of steps not -- in circumstances not of my choosing and i think it is
. >> on monday we celebrate the anniversary of the lehman brothers' collapse that caused the financial catastrophe unlike anything we've seen. >> reporter: a year ago the bush administration decided lehman was not too big to fail. >> i think we were within 72 hours of a collapse of the system. >> reporter: then came the collapse that led to an unprecedented $700 billion in bailouts. today on wall street president obama will lay out an argument for reform. forcing banks...
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Sep 13, 2009
09/09
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also, a look at the response to the collapse of lehman brothers one year later with the chairman of the commodities futures trading commission. and later, a discussion on whorunsgov.com. that is live on c-span. one monday, the house considers authorization for nearly $3 billion through the year 2014 for energy department based research on gas efficient turbines and hybrid vehicles. also, consideration of a measure that would change federal is subsidized student loans. house gavels and monday at 12:30 p.m. eastern for general speeches with legislative work starting at 2 eastern. the senate also returned the money to work on fiscal year 2010 federal spending. senators are considering $122 billion for transportation and housing programs. that will catalan at 2:00 p.m. eastern. and then at 3:00 p.m., the senate will begin legislative business. live coverage of the senate on c-span2. >> following the senate's return from august recess, they held a formal tribute for senator edward kennedy. we will hear from senator robert byrd, sexy chambliss, and several others. this is one hour and 20 minu
also, a look at the response to the collapse of lehman brothers one year later with the chairman of the commodities futures trading commission. and later, a discussion on whorunsgov.com. that is live on c-span. one monday, the house considers authorization for nearly $3 billion through the year 2014 for energy department based research on gas efficient turbines and hybrid vehicles. also, consideration of a measure that would change federal is subsidized student loans. house gavels and monday at...
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Sep 14, 2009
09/09
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but it was lehman brothers that hank paulson and the bush administration allowed to go under. many felt that that contributed to the financial crisis that ensued. there's a lot of debate back and forth about what happened. what's not under debate as far as the administration is concerned is the need for more financial regulation. and the president's package is on capitol hill. i have to tell you, it's sort of being picked apart at this point. initially, it drew criticism from republicans and democrats. it was giving the federal reserve in their view too much power. alterations have been made. there's still a lot of other things going on on capitol hill. you may have heard of the health care debate. >> a little something called health care reform. >> this financial services regulation package to become more strict on wall street is languishing in committee at this point. >> thank you very much, mike. to talk about what this means, dylan ratigan, host of "morning meeting" is here with me now. we're waiting on the president. we're told he's going to speak at noon. but mike makes
but it was lehman brothers that hank paulson and the bush administration allowed to go under. many felt that that contributed to the financial crisis that ensued. there's a lot of debate back and forth about what happened. what's not under debate as far as the administration is concerned is the need for more financial regulation. and the president's package is on capitol hill. i have to tell you, it's sort of being picked apart at this point. initially, it drew criticism from republicans and...
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Sep 14, 2009
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all that plus a year since lehman brothers folded, hundreds of billions crossed wall street. a year later, has anything improved? we will get to that. >>> but the big story, law enforcement officers tell nbc news they have a suspect in the murder of grad student annie le. police believe they found the body of the 24-year-old stuffed behind a wall in a building where she was last seen. the suspect reportedly is a student who underwent a polygraph test and failed. nbc's michelle franzen is on yale's campus in new haven, connecticut, today. michelle are they telling you anything else about this student? >> reporter: certainly, contessa, law enforcement agencies are not speaking out publicly today no press conferences scheduled at this point, but a lot of things developing behind the scenes. nbc has learned that law enforcement sources say that, yes, there was indeed a suspect in this case. and as you mentioned, failed a polygraph test and also showed signs of defensive wounds. we are still waiting word on any other details about that suspect. obviously, no name yet or if this su
all that plus a year since lehman brothers folded, hundreds of billions crossed wall street. a year later, has anything improved? we will get to that. >>> but the big story, law enforcement officers tell nbc news they have a suspect in the murder of grad student annie le. police believe they found the body of the 24-year-old stuffed behind a wall in a building where she was last seen. the suspect reportedly is a student who underwent a polygraph test and failed. nbc's michelle franzen...
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Sep 14, 2009
09/09
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lehman brothers is like the ugly opening that showed you just how bad it was. today president obama heading back to wall street where it all began. air force one to land in new york in about two hours. he has a big speech midday. and the president will head and go to the federal hall. will the government do what they need to do with too big to fail or not? and then back to the white house later in the afternoon for the president for health care and the rest of it. and peter alexander with a preview of the president's remarks. we understand he is bringing plenty of company from d.c. with him? >> yeah, for most of the summer the president has been focusing on the health care debate, and now he is focusing on the health of the economy as he tries to revive this conversation in the country. he will layout the ground work for trying to wind down the government's intervention in the sector. and he will push for massive legislation that he wants before the end of this year. and also emphasizing global cooperation that has happened in the past. it will be needed in the
lehman brothers is like the ugly opening that showed you just how bad it was. today president obama heading back to wall street where it all began. air force one to land in new york in about two hours. he has a big speech midday. and the president will head and go to the federal hall. will the government do what they need to do with too big to fail or not? and then back to the white house later in the afternoon for the president for health care and the rest of it. and peter alexander with a...
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Sep 14, 2009
09/09
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exactly one year after the collapse of lehman brothers. the president is expected to call on congress to approve regulatory reform to prevent another market meltdown. >>> this morning, european and asian markets fell amid an announcement by the u.s. that it will now impose tariffs on chinese-made tires. tokyo's nikkei slid more than 2%. >>> house democrats say they will try to reprimand congressman joe wilson this week if he doesn't apologize for his outburst during president obama's health care address when he shouted "you lie." on sunday, wilson said his apology to the president was enough and that he will not apologize to the house. >>> tennis star serena williams' outburst at the u.s. open has cost her more than $10,000 in fines and could cost her all the money she earned at the tournament, plus a possible suspension at next year's open. this as officials investigate whether williams committed a major offense. we get more now from nbc's peter alexander. >> reporter: it was billed as the match of the tournament, and that's likely how it
exactly one year after the collapse of lehman brothers. the president is expected to call on congress to approve regulatory reform to prevent another market meltdown. >>> this morning, european and asian markets fell amid an announcement by the u.s. that it will now impose tariffs on chinese-made tires. tokyo's nikkei slid more than 2%. >>> house democrats say they will try to reprimand congressman joe wilson this week if he doesn't apologize for his outburst during president...
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Sep 19, 2009
09/09
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a year after the failure of lehman brothers, president obama traveled to wall street to talk about preventing a repeat of the economic meltdown. >> the only way to avoid a crisis of this magnitude is to ensure that large firms cannot take risks that threaten our entire financial system. and to make sure that we have the resources to weather even the worst of economic storms. >> said the president is saying some in the financial industry have not learned the lessons of the economic crisis. we're talking are regulatory reform. how did wall street respond to this? charles? >> with a bit of a shrug. everybody understands that in the end, the government is going to bail them out as happened last year. it will not allow the large institutions to fail. so there is no incentive to rein in risk if you know at the end of the day, and uncle sam will ride in on the rescue. >> they are already developing new things about the credit defaults slops. but there is nothing. >> the only thing is in the way to take risks. the regulatory practice does not have much of anything. a year after the crisis, they have
a year after the failure of lehman brothers, president obama traveled to wall street to talk about preventing a repeat of the economic meltdown. >> the only way to avoid a crisis of this magnitude is to ensure that large firms cannot take risks that threaten our entire financial system. and to make sure that we have the resources to weather even the worst of economic storms. >> said the president is saying some in the financial industry have not learned the lessons of the economic...
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Sep 14, 2009
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lehman brothers financial firm collapsed setting off a domino affect of bank bailouts that caused a market melt down. the president made a trip to new york city to warn wall street against returning to its old ways. tom fitzgerald has the highlights. >> reporter: the president said while the u.s. economy has pulled back from the brink of ruin he warned these financial giants they could not count on anymore bailouts. speaking at federal hall, the heart of the city's financial district, president told wall street executives they cannot only not count on bailouts but there are new rules to protect banking and credit card company and wants greater truth in advertising so customers know exactly what they are getting in to when they sign a mortgage loan or apply for credit cards and the president wants better oversight to prevent problems of the past from happening again. >> we will not go back to the days of reckless behavior and unchecked excess at t heart of this crisis where too many were motivated only by the appetite for quick kill and bloated bonuses. those on wall street cannot resume ta
lehman brothers financial firm collapsed setting off a domino affect of bank bailouts that caused a market melt down. the president made a trip to new york city to warn wall street against returning to its old ways. tom fitzgerald has the highlights. >> reporter: the president said while the u.s. economy has pulled back from the brink of ruin he warned these financial giants they could not count on anymore bailouts. speaking at federal hall, the heart of the city's financial district,...
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Sep 14, 2009
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he is speaking one year after the collapse of lehman brothers. he will push for tougher regulations. lehman brothers filed bankruptcy last year on the 15th of september. it helped trigger a global financial crisis, of course still felt today. ahead this morning we'll speak with frank ahrens about what's ahead in the next six months. >>> president obama still confident that congress will pass a, quote, good health care bill. over the weekend moderate republican senator olympia snowe said the president should forget about the public option, it won't pass. even white house advisors backed down on the public option when asked on sunday talk shows. the president was speaking to "60 minutes" about claims some republicans are trying to block a reform bill for political gain. >> i believe that we will have enough votes to pass not just any health care bill but a good health care bill that helps th american people, reduces costs, actually over the long term controls our deficit. i'm confident that we've got that. you're right, so far we haven't gotten muc
he is speaking one year after the collapse of lehman brothers. he will push for tougher regulations. lehman brothers filed bankruptcy last year on the 15th of september. it helped trigger a global financial crisis, of course still felt today. ahead this morning we'll speak with frank ahrens about what's ahead in the next six months. >>> president obama still confident that congress will pass a, quote, good health care bill. over the weekend moderate republican senator olympia snowe...
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Sep 14, 2009
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who knew this would become a national holiday, lehman brothers. apparently, we'll get the day off school someday for the fall of lehman brothers. in seriousness, the an attempt -- i think the president wants to highlight, look, we pulled the economy back from the brank. it was really bad. a little bit of a reminder that it was really bad. he's going to make a little bit of a push for his massive overhaul of the financial regulatory system. that is actually another bill mabllinging its way through congress. should get passed in the fall. totally opposite strategy they had on health care. white house wrote the bill and dropped it on the desk of congress. we'll see how that goes. third thing with wall street is lecture them. hey, don't get complacent. just because things look stable now doesn't mean you can go off and start -- there was an article the other day in "the new york times." you can start gambling on life insurance policies, which i think was the potential latest gimmicks that some in the securities industry were thinking about trading. >>
who knew this would become a national holiday, lehman brothers. apparently, we'll get the day off school someday for the fall of lehman brothers. in seriousness, the an attempt -- i think the president wants to highlight, look, we pulled the economy back from the brank. it was really bad. a little bit of a reminder that it was really bad. he's going to make a little bit of a push for his massive overhaul of the financial regulatory system. that is actually another bill mabllinging its way...
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Sep 15, 2009
09/09
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lehman brothers, merrill lynch, aig, washington mutual, wachovia -- the week before this began, fannie mae and freddie mac had been taken over by the government and other large firms teetered on the brink of insolvency. credit markets froze as banks refused not only to land of families and businesses but to one another. $5 trillion of american household wealth evaporated in the span of just three months. it was just one year ago. congress and the previous administration took difficult but necessary action in the days and months that followed. nonetheless, when this administration what for the door in january, the situation remained urgent. the markets have fallen sharply, credit was not flowing, and there was fear that the largest banks, those that remained standing, had too little capital and far too much exposure to risky loans. the consequences have spread far beyond the streets of lower manhattan. this was no longer just a financial crisis, but a full- blown economic crisis with home prices sinking and businesses struggling to access to affordable credit and the economy shedding an
lehman brothers, merrill lynch, aig, washington mutual, wachovia -- the week before this began, fannie mae and freddie mac had been taken over by the government and other large firms teetered on the brink of insolvency. credit markets froze as banks refused not only to land of families and businesses but to one another. $5 trillion of american household wealth evaporated in the span of just three months. it was just one year ago. congress and the previous administration took difficult but...
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Sep 14, 2009
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or lehman brothers. working with congress it is important to make sure that the federal deposit insurance corp. and treasury have a way to unwind these institutions. host: rodriquez gary gensler has his m.b.a. from the wharton business school at the university of pennsylvania. you spend time at goldman sachs and also on senator sarbain'ne's staff on the banking committee. what do you think? guest: the american public needs to be assured that there are no conflicts. i left a wall street 12 years ago. it still comes up. people want to make sure whether in my job or anyone else's that we're working on behalf of the american public. that is valid. host: how on your staff do you make sure? people who have had both policy and wall street experience? guest: one, may sure they comply with everything the government office of ethics layout. obama also has a strong set of ethics laid out. we need a strong balance. some expertise from the hill and some from academia, from main street, and on occasion even from wall
or lehman brothers. working with congress it is important to make sure that the federal deposit insurance corp. and treasury have a way to unwind these institutions. host: rodriquez gary gensler has his m.b.a. from the wharton business school at the university of pennsylvania. you spend time at goldman sachs and also on senator sarbain'ne's staff on the banking committee. what do you think? guest: the american public needs to be assured that there are no conflicts. i left a wall street 12 years...
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Sep 14, 2009
09/09
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so, on this first anniversary of lehman brothers' collapse, i conclude by saying i look forward to working with my colleagues not only to address the financial crisis of the past but also to scrutinize and begin to correct the financial abuses of the present so we can avoid the problems of the future. madam president, i yield the floor. and i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: madam president? the presiding officer: the senator from nebraska. mr. johanns: madam president, i ask that the quorum call be vitiated so i can speak on the pending amendment. the presiding officer: without objection. mr. johanns: madam president, at 5:30 this afternoon, in just a few minutes, we're going to vote on the pending amendment, which is an amendment to bar acorn from receiving any money from the appropriations bill that we are considering. i spoke earlier today, so i'll only speak a couple of minutes today. i wanted to come to the senate floor again to underscore the importance of this vote and to underscore the history that brings
so, on this first anniversary of lehman brothers' collapse, i conclude by saying i look forward to working with my colleagues not only to address the financial crisis of the past but also to scrutinize and begin to correct the financial abuses of the present so we can avoid the problems of the future. madam president, i yield the floor. and i suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: madam president? the presiding officer: the...
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Sep 24, 2009
09/09
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HLN
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secretary, i would like to talk about lehman brothers for a minute. in that case, it was not the amount of leverage they had but it was the fact that they were funding that leverage with overnight funds. that was probably the case with bear stearns, as well. as a result of that, you had the money market accounts that went bust. while the decision was made that there was no systemic risk, i guess that decision was made and and there would be no intervention on the part of lehman brothers, there was subsequently an intervention to guarantee buck on money-market accounts. since then, money market accounts have not been the preferred vehicle of investment by americans. is there any thing in this regulation that would have regulated, not the percentage of leverage with lehman brothers but the fact that lehman brothers, and most of these guys, were keeping major parts of their portfolio in their capital portfolio these mortgage-backed securities and then holding 30-year maturity instruments and funding them with overnight funds? is there something that will
secretary, i would like to talk about lehman brothers for a minute. in that case, it was not the amount of leverage they had but it was the fact that they were funding that leverage with overnight funds. that was probably the case with bear stearns, as well. as a result of that, you had the money market accounts that went bust. while the decision was made that there was no systemic risk, i guess that decision was made and and there would be no intervention on the part of lehman brothers, there...
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Sep 3, 2009
09/09
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going to get easier and easier this time last year, of course, this was the month we saw the demise of lehman's a lot of consumers snapped their wallets shut. >> a good point, mandy. everything, it was like a disaster, consumers really pulled back, it was a very severe impact last september, last october, all the way through holiday sales. so, when we start getting into these months, the rest of september, october, then november, december with the holiday sales, when we compare them to what happened last year, things, salt analysts, could be looking very good on that road to basis. >> rebecca, thank you very much. >> thanks. >>> evidence the economy is causing not only financial but psychological stressors, especially for those out of work. researchers at rutgers university say they found many americans say the recession has dramatized them. two out of three report being depressed. >>> it is depressing to be out of work it really plays with your self-confidence. >>> nasa says tonight's shuttle space walk is on even though the astronauts may have to weave and dodge a little bit. apparently there
going to get easier and easier this time last year, of course, this was the month we saw the demise of lehman's a lot of consumers snapped their wallets shut. >> a good point, mandy. everything, it was like a disaster, consumers really pulled back, it was a very severe impact last september, last october, all the way through holiday sales. so, when we start getting into these months, the rest of september, october, then november, december with the holiday sales, when we compare them to...
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Sep 11, 2009
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done to both retail people who bought insurance protections from aig, as well as the type of risky saw lehman present. is a more complicated picture. >> we just finished our report, chrysler and gm insolvent, aig insolvent. they have secured creditors and employees and all took big hair cuts. aig had people hold their credit defaults swaps. we took no hair cut at all. they give us money from the federal government, 100 cents on the dollar, and i have to understand what they are different from one another. >> that is the tragic failure, because we did not have the legal capacity to manage the orderly unwinding of a large, complex financial institution. we do have a capacity for small banks and thrifts, but not aig, said that forces us to do things that we would not normally do. we would have done in a second if he could have done that, but in deciding that, we would have presented the risk of further systemic damage to a fragile system. by preventing default, we help them meet the immediate obligations, not just for insurance protection, but for broad counterparties. that is the consequence of
done to both retail people who bought insurance protections from aig, as well as the type of risky saw lehman present. is a more complicated picture. >> we just finished our report, chrysler and gm insolvent, aig insolvent. they have secured creditors and employees and all took big hair cuts. aig had people hold their credit defaults swaps. we took no hair cut at all. they give us money from the federal government, 100 cents on the dollar, and i have to understand what they are different...
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Sep 13, 2009
09/09
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also, and look at the response to the collapse of lehman brothers, with the chairman of the commodity futures trading commission. later, a discussion with rachel van dongen. that is live at 7:00 a.m. eastern, here on c-span. on monday, the house considers authorization for nearly $3 billion through the year 2014 for energy department based research on hybrid vehicles. also, consideration of a measure that would change federalese subsidized student loans. the house gavels in on monday for general speeches, but legislative work starting at 2:00 eastern. the senate also returned on monday to work on the fiscal year 2010 federal spending. senators are considering $122 billion for transportation and housing programs. they will gabble in at 2:00 p.m. for general speeches, then give it -- and beginning legislative business. >> 1.7 million immigrants each year are followers of islam. tonight, reflections on europe, immigration, islam and the west, on c-span's "q&a." >> next, a hearing from -- a hearing on the testimony on the situation in iraq with an update from the field. first, remarks fro
also, and look at the response to the collapse of lehman brothers, with the chairman of the commodity futures trading commission. later, a discussion with rachel van dongen. that is live at 7:00 a.m. eastern, here on c-span. on monday, the house considers authorization for nearly $3 billion through the year 2014 for energy department based research on hybrid vehicles. also, consideration of a measure that would change federalese subsidized student loans. the house gavels in on monday for...
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Sep 14, 2009
09/09
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MSNBC
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obama was on wall street today to give a major speech on our economy, one year after the collapse of lehman brothers. the president spoke at the historic federal hall and had this warning for wall street. >> i want everybody here to hear my words. we will not go back to the dives reckless behavior and unchecked excess that was at the heart of this crisis. too many were motivated only by the appetite for quick kills and bloated bonuses. those on wall street cannot resume taking risks without regard for consequences and expect that next time, american taxpayers will be there to break their fall. but the old ways that led to this crisis cannot stand and to the extent that some have so readily returned to them underscores the need for change and change now. history cannot be allowed to repeat itself. >> the old ways, the president was talking about big bonuses, they are still being handed out n fact, goldman sachs put a i side $11 billion for bonuses this year and citigroup announced plans to pay $ 00 million bonus to one person. the risk, it is back as well. goldman sachs posted as 3 billion-p
obama was on wall street today to give a major speech on our economy, one year after the collapse of lehman brothers. the president spoke at the historic federal hall and had this warning for wall street. >> i want everybody here to hear my words. we will not go back to the dives reckless behavior and unchecked excess that was at the heart of this crisis. too many were motivated only by the appetite for quick kills and bloated bonuses. those on wall street cannot resume taking risks...
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Sep 27, 2009
09/09
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HLN
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what they were doing -- you may have a bare stearns or lehman. they were doing everything from operating ledge funts or trading on their own account, not for commerce. they were trading organizations, and they were taking risks, proprietary trading, which is a very risky thing. that is very different from a commercial bank that is lending money. you have got goldman-sachs and morgan stanley, and they have come within the umbrella of protection of the federal government. well, if they are going to continue to engage in proprietary lending, and if they are going to continue to maybe be involved with hedge funds activity, some of these more risky activities, there actually needs to be separation . >> would that include stick -- citigroup as well? >> yes. when you get into citigroup or bank of america, you have a problem there because they are not one or the other. but if you're going to have the protection of the safety net of what was designed for depositors, the american public, and you start giving them protection from their more risky activity,
what they were doing -- you may have a bare stearns or lehman. they were doing everything from operating ledge funts or trading on their own account, not for commerce. they were trading organizations, and they were taking risks, proprietary trading, which is a very risky thing. that is very different from a commercial bank that is lending money. you have got goldman-sachs and morgan stanley, and they have come within the umbrella of protection of the federal government. well, if they are going...
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Sep 1, 2009
09/09
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CSPAN
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eye 178
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or the machinists or the teachers or any other union that was calling the shots at bear stearns and lehman brothers or aig or goldman sachs. and i can tell you for a fact that no one at the fed or the treasury department ever picked up the phone and called the afl-cio or any other trade union for our advice or for our opinion. but even though it wasn't organized labor that got us into this mess, i'm here to tell you that we are the people who are going to lead america out of the mess. see, there's no other way because the bottom line is that you cannot rebuild this economy unless you raise workers' wages and the fastest and surest and most effective mechanism for raising workers wages is to collective bargaining process. increasing productivity only raises wages when workers have bargaining power. take bargaining power out of the equation, and you still generate wealth. but it won't get into the hands of the people who created it or really who must have it in order to grow the economy. that's what's been happening over the last 30 years. john maynard understood the dangers and ravages of f
or the machinists or the teachers or any other union that was calling the shots at bear stearns and lehman brothers or aig or goldman sachs. and i can tell you for a fact that no one at the fed or the treasury department ever picked up the phone and called the afl-cio or any other trade union for our advice or for our opinion. but even though it wasn't organized labor that got us into this mess, i'm here to tell you that we are the people who are going to lead america out of the mess. see,...
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Sep 18, 2009
09/09
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CSPAN
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lehman brothers, which was a stand-alone investment bank, bare stone -- bear stearns, which was a stand-alone investment bank. look at their countries that escaped the major carnage that the united states the escaped. i think canada is a good example in this regard. they have not had nearly the financial dislocation that we have had, despite having many of the experiences, and to north america. they established a diversified set of institutions several years ago. indeed, a large part of what is enabled the resumption of stability at the moment of panic was the conversion of morgan stanley and goldman sachs to enable them to get access to the discount window. the combination of merrill lynch and bank of america. so i don't think the argument that somehow if you separated investment banking activities and commercial banking activities, you would not have had the crisis. excess of separation between them may have led to more crises. at the same time, i think it is important to recognize that the concern behind many of the discussions of glass steagall is a very real one. that is the necessity of
lehman brothers, which was a stand-alone investment bank, bare stone -- bear stearns, which was a stand-alone investment bank. look at their countries that escaped the major carnage that the united states the escaped. i think canada is a good example in this regard. they have not had nearly the financial dislocation that we have had, despite having many of the experiences, and to north america. they established a diversified set of institutions several years ago. indeed, a large part of what is...
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Sep 9, 2009
09/09
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CSPAN
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the speech be delayed a week because we had the september 11 anniversary and the anniversary of the lehman brothers collapse coming up. but the president himself said i want to go right away, as soon as congress is back. the goal is to reclaim the middle ground here, which is what has been lost. host: you wrote "this is what barack obama does -- guest: in the last six weeks we have had six or so town halls that the president has done. a lot live on television. he has done a number of press conference as prime time, including in july. going back to the same moves, thinking his own communication skills can take him over the hump. there is a question whether there are diminishing returns, whether the american people at some point will get tired of the president and his major addresses. host: you conclude with this point -- guest: there are two tracks -- one is the legislative track. the other is public support. over all this we have seen a diminishment of public support among those people on the center of the political spectrum. this is targeted to those voters in the hopes it will give polit
the speech be delayed a week because we had the september 11 anniversary and the anniversary of the lehman brothers collapse coming up. but the president himself said i want to go right away, as soon as congress is back. the goal is to reclaim the middle ground here, which is what has been lost. host: you wrote "this is what barack obama does -- guest: in the last six weeks we have had six or so town halls that the president has done. a lot live on television. he has done a number of press...
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Sep 15, 2009
09/09
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CSPAN2
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bernanke talks about the state of the financial markets one year after the collapse of the investment bank lehman brothers, which was followed by widespread financial instability. that's live at 10:00 a.m. eastern, on c-span. >> next month, a unique look at our nation's highest court, its role, tradition and history. >> i don't think it's an understatement to say this building would not be here if it hadn't been for the persistence of chief justice past. >> taft had in mind that the court needed to have a building of its own. he believed that when he was president and when he became chief justice, it became almost an obsession. >> supreme court week, with insights from historians and the justices, starting october 4 on c-span. and go on line now for a virtual tour of the court, historic photos and more, at c-span.org/supreme court. >> we take you live now to capitol hill, as the u.s. senate convenes to resume work on fiscal year 2010 spending. with a $122 billion measure for transportation and housing programs. the senate so far has passed four of 12 annual spending bills for the new budget year,
bernanke talks about the state of the financial markets one year after the collapse of the investment bank lehman brothers, which was followed by widespread financial instability. that's live at 10:00 a.m. eastern, on c-span. >> next month, a unique look at our nation's highest court, its role, tradition and history. >> i don't think it's an understatement to say this building would not be here if it hadn't been for the persistence of chief justice past. >> taft had in mind...
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441
Sep 21, 2009
09/09
by
CNBC
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why don't we compare ourselves to where we were, let's say before the lehman crisis a year ago. how about the all-time high in the market, how different valation levels, how different earnings estimates and earnings expectation. we have long-term problems in this country, no question about it. but i still think we're at the sweet spot of the cyclical recovery process. >> why don't we talk a little bit, we have the meeting tuesday and wednesday, on wednesday we'll be getting a statement. there's a lot of speculation about what we might see, people wondering if the feds are going to start preparing for ventiality of the programs, will they talk about commercial real estate. >> i think they will have to begin to prepare us for an exit on what they call and the market calls using policy. there's two parts to the program, one 0% interest rates and quantitative, which basically meant the fed would buy trillions of assets whether morgue loans or agency securities. those programs are basically scheduled to end towards the end of the year and in most cases at the end of the year. and so
why don't we compare ourselves to where we were, let's say before the lehman crisis a year ago. how about the all-time high in the market, how different valation levels, how different earnings estimates and earnings expectation. we have long-term problems in this country, no question about it. but i still think we're at the sweet spot of the cyclical recovery process. >> why don't we talk a little bit, we have the meeting tuesday and wednesday, on wednesday we'll be getting a statement....
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Sep 8, 2009
09/09
by
CSPAN
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eye 179
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a couple of days later they injected 80 billion into aig and then let lehman bros. close and said we need 700 billion for the rest of the financial industry. that sets the table for a series of events to take us to, today and there is this sense of people, well there is a large amount of government involve meant in the private economy and now healthcare is the thing that hits everybody. everybody has to go to a doctor or hospital. everybody has someone that's struggled with end of life issues and that's really, they've really touched a third rail here. through new our guests are paul cane with the "washington post" and christina with the washington times. they're with us for the rest of the hour. william calling from andrews, north carolina. >> good morning. i saw president barack obama on t.v. a while back and he said, if we wanted to what his policies were, that we could see who he surrounded himself with. well he surrounds himself with czars and one of them quit in the middle of the night on sunday and heard nothing about it from any of the newspaper or cb s&nbc
a couple of days later they injected 80 billion into aig and then let lehman bros. close and said we need 700 billion for the rest of the financial industry. that sets the table for a series of events to take us to, today and there is this sense of people, well there is a large amount of government involve meant in the private economy and now healthcare is the thing that hits everybody. everybody has to go to a doctor or hospital. everybody has someone that's struggled with end of life issues...
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Sep 3, 2009
09/09
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CSPAN
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eye 265
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. >> book tv prime time, "the daily show's" larry wilmore talks about his book, and former lehman brothers executive lawrence mcdonnell talks about the collapse of that firm. book tv starts at 8:00 eastern on c-span2. >> lessons in leadership from the former head of centcom and middle east envoy, retired general tony zinni, on how leaders and organizations can best respond to the trends shaping the world. he discusses his book with former fema director julius becton, on "after words." >> in japanese elections last sunday, the liberal democratic party as it was ousted by the democratic party of japan after 50 years in power. cbs news chief bob schieffer moderate the discussion on those elections and the future of u.s. relations with japan. it is one hour. >> i would like to think it was as brilliant that we were in third time the election with this event -- that we were able to time the election with this event. we are glad to have a chance to have everybody today. coming together and talking about this election in japan, this was one of the most monumental political developments in the las
. >> book tv prime time, "the daily show's" larry wilmore talks about his book, and former lehman brothers executive lawrence mcdonnell talks about the collapse of that firm. book tv starts at 8:00 eastern on c-span2. >> lessons in leadership from the former head of centcom and middle east envoy, retired general tony zinni, on how leaders and organizations can best respond to the trends shaping the world. he discusses his book with former fema director julius becton, on...
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138
Sep 7, 2009
09/09
by
CSPAN
tv
eye 138
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the uaw or afsce or the machinists or any other union that was calling the shots at bear stearns and lehman brothers or a.i.g. or goldman sachs. i can tell you for a fact that no one at the fed or the treasury department ever picked up the phone and call the afl- cio or any other trade union for our advice or for our opinion. n. but even though it wasn't organized labor that got us into this mess, i'm here to tell you that we are the people who are going to lead america out of the mess. see, there's no other way because the bottom line is that you cannot rebuild this economy unless you raise workers' wages and the fastest and surest and most effective mechanism for raising workers wages is to collective bargaining process. increasing productivity only raises wages when workers have bargaining power. take bargaining power out of the equation, and you still generate wealth. but it won't get into the hands of the people who created it or really who must have it in order to grow the economy. that's what's been happening over the last 30 years. john maynard understood the dangers and ravages of
the uaw or afsce or the machinists or any other union that was calling the shots at bear stearns and lehman brothers or a.i.g. or goldman sachs. i can tell you for a fact that no one at the fed or the treasury department ever picked up the phone and call the afl- cio or any other trade union for our advice or for our opinion. n. but even though it wasn't organized labor that got us into this mess, i'm here to tell you that we are the people who are going to lead america out of the mess. see,...
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193
Sep 8, 2009
09/09
by
CSPAN
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eye 193
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a couple of days later they injected 80 billion into aig and then let lehman bros. close and said we need 700 billion for the rest of the financial industry. that sets the table for a series of events to take us to, today and there is this sense of people, well there is a large amount of government involve meant in the private economy and now healthcare is the thing that hits everybody. everybody has to go to a doctor or hospital. everybody has someone that's struggled with end of life issues and that's really, they've really touched a third rail here. through new our guests are paul cane with the "washington post" and christina with the washington times. they're with us for the rest of the hour. william calling from andrews, north carolina. >> good morning. i saw president barack obama on t.v. a while back and he said, if we wanted to what his policies were, that we could see who he surrounded himself with. well he surrounds himself with czars and one of them quit in the middle of the night on sunday and heard nothing about it from any of the newspaper or cb s&nbc
a couple of days later they injected 80 billion into aig and then let lehman bros. close and said we need 700 billion for the rest of the financial industry. that sets the table for a series of events to take us to, today and there is this sense of people, well there is a large amount of government involve meant in the private economy and now healthcare is the thing that hits everybody. everybody has to go to a doctor or hospital. everybody has someone that's struggled with end of life issues...